Home / Business and Economy / Cemex Buys U.S. Stucco Maker Omega Products
Cemex Buys U.S. Stucco Maker Omega Products
26 Feb
Summary
- Cemex is acquiring U.S. stucco manufacturer Omega Products.
- Omega Products generates approximately $23 million annually in core earnings.
- The acquisition aligns with Cemex's U.S. growth strategy.
Mexican cement maker Cemex has revealed plans to purchase U.S. stucco manufacturer Omega Products International. This acquisition marks a significant step in Cemex's strategy to broaden its portfolio of building materials in the United States.
Omega Products, which operates four facilities across the western U.S., generates an estimated $23 million in annual core earnings. Cemex stated that the deal is anticipated to conclude within the first quarter of the current year.
According to Cemex CEO Jaime Muguiro, the purchase strongly supports the company's U.S. expansion efforts. Omega's existing infrastructure and customer base in western states closely mirror Cemex's current cement, aggregates, and additives operations.
This move follows Cemex's strategy, initiated last year, to streamline operations and focus on expansion in key markets like the U.S. The company previously increased its stake in Couch Aggregates, a southeastern U.S. producer of sand, gravel, and crushed stone.
